How to prepare flood loss for tax return?

[Huiping S.]

Lots families were flooded from Hurricane Helene. The flood insurance will cover limited, structure may or may not the contents. Lots people's car, appliances were died. The loss is very big for those family. I drove through some community and like a after war field. 

How those people should be prepared to report loss on tax return? How detail to keep the loss?

Hope tax professionals or experienced people can give some suggestion.

Thanks!

[Ashish Acharya]

@Huiping S. To claim flood losses from Hurricane Helene, affected families should document all property damage, take photos, and keep receipts for repairs. File a casualty loss using Form 4684 and Schedule A if losses exceed $500 and aren't fully covered by insurance. Record the fair market value before and after the flood, and subtract any insurance or FEMA assistance.

*This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.